Power of Government to direct vesting of the undertaking in a Government company

Power of Government to direct vesting of the undertaking in a Government company.-(1) Notwithstanding anything contained in sections 4 and 5, the Government may, if they are satisfied that a Government company is willing to comply or has complied, with such terms and conditions as the Government may think fit to impose, direct, by notification, that the undertaking and the right, title and interest of the club in relation to the undertaking which has vested in the Government under section 4, shall, instead of continuing to vest in the Government, vest in that Government company either on the date of publication of the notification or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in the notification.

1. (2) Where the right, title and interest of the club in relation to the undertaking vest, under sub-section (1), in a Government company, that Government company shall, on and from the date of such vesting, be deemed to have become the owner in relation to such undertaking and all the rights and liabilities of the Government in relation to such undertaking shall, on and from the date of such vesting, be deemed to have become the rights and liabilities of that Government company.